President Bola Tinubu has stated that his backing of the Dangote Refinery was intended to stimulate increased private sector involvement in the Nigerian economy. He shared this perspective during a Thursday session at the Presidential Villa in Abuja with the leadership of the Nigerian Exchange Group.
Reflecting on his past efforts, the President noted that he discussed the feasibility of the refinery project with former President Muhammadu Buhari long before he himself took office. Upon officially beginning his presidency on May 29, 2023, his administration implemented a naira-for-crude policy to strengthen the national currency, effectively removing the requirement for letters of credit and cumbersome administrative procedures.
Tinubu emphasized that Nigeria possesses the human intellect and population density required to reach a one-trillion-dollar economy. He reaffirmed his commitment to private sector growth, noting that he championed the refinery project early on and worked with the previous administration to ensure the project transitioned into private hands.
